"The East Belumut drilling programme has proved to be very successful”, said Jadestone president and CEO Paul Blakeley.
Jadestone Energy (AIM:JSE) has secured an increases to its borrowing capacity, as focus turns to its Akatara gas project ahead of first output in mid-2024.
Jadestone CEO and president Paul Blakeley said Montara had been a “real problem”. The defect in July occurred in a tank that had already been inspected, he explained to Energy Voice.
Operations at the Montara Venture FPSO were halted following a gas alarm on July 29.
Jadestone Energy said it has located a ‘small defect’ between water and oil tanks on board its Montara Venture FPSO, which will remain shut in while repairs are made.
“There is a short window of time when liquidity becomes a challenge,” the executive said, with this week’s fundraising to tide the company over.
In April, the company reported work on Akatara was 28% complete. It is on track to reach first in the first half of 2024. Jadestone took final investment decision (FID) on the field in June 2022.
Among the company’s plans, it sees gas as playing an important part. The company took final investment decision (FID) on the Akatara gas project in June 2022. It is 28% complete and should reach first gas in the first half of 2024.
Jadestone Energy has announced an investment programme worth up to $140 million for 2023 as it looks to first gas from its Akatara venture next year.
However, “a small number of inconsistencies in standard fittings were identified” during this process. As a result, Jadestone is now tackling these problems in order to ensure safety.
Southeast Asia-focused Jadestone Energy has signed a deal with Indonesia’s Medco Energi Internasional to acquire stakes in the Sinphuhorm gas field and Dong Mun gas discovery onshore Thailand for $32.5 million.
Multi-billion-dollar oil and gas projects remain delayed in Vietnam and undermine the Southeast Asian nation’s ambitions to expand its gas production capabilities as it seeks to move away from coal-fired power.
Analysts reckon Jadestone Energy (LON:JSE) has its sights set on acquiring a bigger share of the producing North West Shelf oil fields offshore Western Australia that are currently operated by Woodside Energy (ASX:WDS). Ultimately, Singapore-based Jadestone will be seeking operatorship to maximise profitability, the analysts told Energy Voice.
Jadestone Energy has announced the acquisition of a 16.67% interest in the producing North West Shelf oil fields offshore Western Australia from BP. The deal is in line with the London-listed company’s strategy of acquiring low-cost barrels at less than US$3/barrel, while establishing an entry position into what it describes as a "very high-quality long-life asset with very low decline rates."
Asia Pacific-focused oil and gas company Jadestone Energy has appointed Bert-Jaap Dijkstra as chief financial officer and director of the London-listed company from 1 September 2022.
When Jadestone Energy (LON:JSE) completed its US$195 million acquisition of the Montara oil project from PPT Exploration & Production (BKK:PTTEP) in September 2018 it was taking a risk with a floating production storage and offloading (FPSO) unit that had a troubled history. Given a recent oil spill at the field in the Timor Sea, and subsequent shutdown of the Montara Venture FPSO, that gamble has come home to roost.
Australia’s offshore regulator has issued a prohibition notice to Jadestone Energy (LON:JSE) following an oil spill offshore Australia at the Montara oilfield due to immediate and significant threats to the environment as the structural integrity of the FPSO is at risk of failure.
Jadestone Energy, an oil and gas production company focused on the Asia Pacific region said yesterday that its chief financial officer (CFO) Dan Young, had decided to leave the UK-listed company.
Asia Pacific-focused Jadestone Energy (LON:JSE) today said it has successfully tied the Montara H6 development well into the Montara field facilities offshore Australia in the Timor Sea and started production.
UK listed Jadestone Energy has satisfied all the conditions necessary, including the approval of Petronas, to complete its acquisition of SapuraOMV’s Peninsular Malaysia assets in a deal worth up to $15 million that will increase the company’s total reserves by more than 30%.
UK listed Jadestone Energy is buying SapuraOMV’s Peninsular Malaysia assets in a deal worth up to $15 million that will increase the company’s total reserves by more than 30%.
Asia Pacific-focused Jadestone Energy is preparing to re-issue a tender for a floating production storage and offloading (FPSO) vessel for its planned gas development at Nam Du and U Minh off Vietnam.
A pair of oil and gas fields controlled by Japanese companies offshore Vietnam could become a potential flash point in the disputed waters of the South China Sea as Beijing continually seeks to aggressively assert its claims.
Jadestone Energy's shares have been admitted to the alternative investment market (AIM) in London.
Jadestone Energy has taken operatorship of the Stag oil field, after the transfer from Quadrant Energy was completed.